Notice of Final Rulemaking on FDIC Official Signs, Advertisement of Membership, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
Summary:
The Federal Deposit Insurance Corporation (FDIC) is issuing a final rule amending the FDIC Rules and Regulations governing signage requirements for insured depository institutions’ (IDIs’) digital deposit-taking channels and automated teller machines (ATMs) and like devices.
The final rule addresses implementation issues and sources of potential confusion raised since the FDIC’s adoption of signage requirements for digital deposit-taking channels and ATMs in 2023. The final rule provides additional flexibility to IDIs while also enabling consumers to better understand when they are conducting business with an IDI and when their funds are protected by the FDIC’s deposit insurance coverage.
Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions.
Highlights:
- Key elements of the final rule include:
- Providing additional flexibility with respect to the FDIC Official Digital Sign – The final rule gives IDIs flexibility in the color, font, and text size that IDIs may use when displaying the FDIC official digital sign.
- Streamlining signage requirements for Digital Deposit-taking Channels – The final rule (1) requires display of the digital sign on an IDI’s homepage; login page; and first page of the deposit account opening process, (2) narrows the requirement to display non-deposit signage to apply only to pages primarily dedicated to advertising or providing information about, or access to, non-deposit products, and (3) permits the one-time notification for bank customers related to third-party non-deposit products to automatically disappear after three seconds.
- Streamlining signage on ATMs and Like Devices – The final rule narrows the requirement for the display of the digital sign and non-deposit signage to apply only to the initial screen and initial non-deposit transaction screen, respectively, and permits a wider range of ATMs and like devices to display the physical FDIC official sign rather than the FDIC official digital sign.
- The final rule sets a compliance date of April 1, 2027.